Economy

China and US Gather Opinions on $30 Billion Tariff Reduction Framework

China and the US are collecting public opinions on a proposed framework for mutual tariff reductions worth $30 billion each, according to China's Ministry of Commerce.

FinFly NewsroomJuly 23, 2026126 views1 min read

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China and the United States are actively gathering public opinions on a proposed framework for mutual tariff reductions worth $30 billion each, said Meng Huating, Director General of the Department of Foreign Investment Administration at China's Ministry of Commerce. The announcement was made at a press conference held by the State Council Information Office on July 23.

Both countries are in close contact regarding the establishment of trade and investment councils, focusing on their structure, functions, and working models. The Chinese government is collecting feedback from domestic enterprises, business associations, local authorities, and associations of companies with US investments. Similarly, the US is gathering public comments on proposals for a trade council and tariff reductions.

The goal is to finalize specific tariff reductions on products and implement them promptly to improve bilateral trade.

Context

What happened before

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Earlier
China and the US began collecting public opinions on the $30 billion mutual tariff reduction framework
July 23
Meng Huating from China's Ministry of Commerce announced the opinion collection at a press conference
After
Both countries are in close contact on establishing trade and investment councils
Later
Specific tariff reductions are expected to be finalized and implemented

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China and US Gather Opinions on $30 Billion Tariff Reduction Framework

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